of wage inertia. We compare the dynamic equilibrium of an economy with wage inertia with the equilibrium of an economy … without it. We show that wage inertia affects the long run employment rate and that the transitional dynamics of the main … economic variables will be different because wages are a state variable when wage inertia is introduced. In particular, we show …

of wage inertia. We compare the dynamic equilibrium of an economy with wage inertia with the equilibrium of an economy … without wage inertia. We show that wage inertia affects the long run employment rate and that the transitional dynamics of the … main economic variables will be different because wages are a state variable when wage inertia is introduced. In particular …

of wage inertia. We compare the dynamic equilibrium of an economy with wage inertia with the equilibrium of an economy … without it. We show that wage inertia affects the long run employment rate and that the transitional dynamics of the main … economic variables will be different because wages are a state variable when wage inertia is introduced. In particular, we show …

of wage inertia. We compare the dynamic equilibrium of an economy with wage inertia with the equilibrium of an economy … without it. We show that wage inertia affects the long run employment rate and that the transitional dynamics of the main … economic variables will be different because wages are a state variable when wage inertia is introduced. In particular, we show …